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Moghalu advocates 50% salary cut for political office holders, NASS members  
Photo Source: Businessday NG

A former deputy governor of the Central Bank of Nigeria, Kingsley Moghalu, has called for a 50% cut in the salary and allowances of politicians, particularly lawmakers, due to the current economic challenges of the country. NAIRAMETRICS reports.infoguidenigeria

Moghalu made this recommendation while featuring on Channel TV’s Politics Today, stating that the current extravagant spending of political elites does not reflect the economic condition of the country they govern.  

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According to him, even though Nigeria is grappling with the challenges of removing the petroleum subsidy, its political leadership and appointees often exhibit a culture of extravagance. 

“The culture of governance is a very important issue that needs to be addressed and the tone has to be set from the top – from the presidency down.NYSC Portal

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It has to include the National Assembly because a lot of resources go there, and they are supposed to be independent of the executive.JAMB Portal

“So, they must come on board, examine themselves, and say: ‘Look, even if we have been making this mistake in the past, we cannot continue this way.

We have to cut our salaries.’ I recommend a 50% cut for all political office holders and all national legislators.

It would make people a little bit more sober. It would make them understand that we are in hard times,” he said.

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